Replaced the pilot assembly itself. I've been told that the spark generator is nothing more than a fancy spark plug. And sensitive like a spark plug, too. If the wire or the porcelain becomes compromised with a knick/crack, etc., it won't produce the spark needed to fire the burners.
Having a secondary issue though, which I may just let sit for awhile. 24 hours prior to replacing the assembly, heater was firing/heating just fine, which really hacked me off since I had just ordered a non-returnable item. Morning of replacement, it didn't fire. Fired up just fine after replacement, and ran all day as needed.
36 hours later, went out to heat up the hot tub. Heater fired, ran for 10-15 minutes, then cycled off, and went back into 'SPK' mode, and did that for a good 4-5 minutes. Burners fired at that point. Ran for another 10-15 minutes, and repeated.
So, something intermittent and systematic is happening here. Not sure what it is, but as mentioned, I'll let this issue sit, and maybe it will iron itself out. Hard to say.